Ocala Has the Highest December 2009 Home Sales in the State!

http://www.ocala.com/article/20100125/ARTICLES/100129855/1402/NEWS?Title=Ocala-had-Fla-s-fastest-home-sales-lowest-prices

OCALA HAS THE HIGHEST NUMBER OF HOME SALES IN THE STATE FOR DECEMBER 2009. Of course this news is tempered by the fact that we also had the lowest median sales price in the state, but to me that simply means we have a lot of deals and they are worth buying! People are scooping them up, we know that we have been hit just about as hard as anyone in the country when it comes to job loss and proportionately so we simply have a lot of foreclosures on the market. Yet OBVIOUSLY with the fact that homes sales are up 79% since this time last year people are finding value in our area! That should be encouraging! Of course the banks are desperate and are going to take ridiculous offers on their properties. They are starving for cash and they need to meet their 10% reserves in order to start lending new money. If they get $50,000 from you they are technically able to lend out $500,000! So away they go writing off losses and infusing new money into their reserves for new loans and arbitrage is back in action, stronger than ever! THE BOTTOM LINE IS THIS IS; ITS ALL GOOD NEWS! THE LOW MEDIAN PRICE OF SALES IS SIMPLY INDICATIVE OF BANK DESPERATION!

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